US, Argentina agree to exchange country-by-country reports on multinationals (opens in new tab)

Yeah, beauty pageant are going to start asking for this instead of world peace. Dream.

As in the "think of the kids" or "fighting terrorism" umbrellas, the "fight money laundry" monicker is bought and supported by Joe Naive then they are surprised when their account gets locked because they split a dinner with their friend or why the bank treats them as a criminal if they want to deal with cash.

But why? Transfer pricing regulations are just countries fighting each other over where taxable value was created. Making them more complicated only harms SMEs who already pay a far greater portion of corporate tax revenue than they should. It just a very ineffective attempt to fight the capital flight caused by double taxation. Perhaps if profits were only taxed once there wouldn't be a capital flight problem to begin with. Maybe companies would even start paying dividends again...

Aren't you concerned about privacy implications? I am glad some people don't have this totalitarian thinking and will never have: https://www.youtube.com/watch?v=ltb3lJCd1mA I highly recommend all videos by Nomad Capitalist.

This is the whole article:

> The US and Argentina have signed a competent authority agreement to exchange country-by-country reports describing aspects of the tax affairs of large multinational groups, the US IRS announced today.

> The aim of the exchange is to allow country tax authorities better insight into the activities of the multinational and it’s into its tax liabilities and payments. The reports help tax authorities determine if there is a risk that the multinational is avoiding tax through inappropriate transfer pricing or through other means.

> The text of the US-Argentina competent authority agreement is not yet available.

> Boise Aries is a top 5 city in the Americas

Not to be confused with the far less populous and less famously immigrant-friendly Boise.

On a more serious note, I'm curious what connection you see between immigration and tax evasion. Is Buenos Aires known for certain kinds of immigration?

*Buenos Aires

No Idaho involved ;)